Artia Global Partners LP lifted its stake in Viking Therapeutics, Inc. (NASDAQ:VKTX – Free Report) by 392.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 719,365 shares of the biotechnology company’s stock after acquiring an additional 573,186 shares during the period. Viking Therapeutics comprises about 3.5% of Artia Global Partners LP’s holdings, making the stock its 7th biggest position. Artia Global Partners LP’s holdings in Viking Therapeutics were worth $25,307,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. ACT Capital Management LLC purchased a new position in shares of Viking Therapeutics in the 4th quarter valued at approximately $7,251,000. EFG International AG purchased a new position in shares of Viking Therapeutics in the 4th quarter valued at approximately $908,000. Cetera Investment Advisers raised its position in shares of Viking Therapeutics by 0.6% in the 4th quarter. Cetera Investment Advisers now owns 189,636 shares of the biotechnology company’s stock valued at $6,671,000 after purchasing an additional 1,165 shares during the last quarter. Equitable Holdings Inc. purchased a new position in shares of Viking Therapeutics in the 4th quarter valued at approximately $227,000. Finally, Price T Rowe Associates Inc. MD raised its position in Viking Therapeutics by 6.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 91,223 shares of the biotechnology company’s stock worth $3,210,000 after buying an additional 5,732 shares during the last quarter. 76.03% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on VKTX. BTIG Research reissued a “buy” rating and set a $125.00 price target on shares of Viking Therapeutics in a research report on Friday, May 1st. Wolfe Research began coverage on shares of Viking Therapeutics in a research report on Thursday, March 26th. They set a “peer perform” rating for the company. Morgan Stanley set a $95.00 price target on shares of Viking Therapeutics in a research report on Thursday, April 30th. Lake Street Capital began coverage on shares of Viking Therapeutics in a research report on Thursday, May 28th. They set a “buy” rating and a $89.00 price target for the company. Finally, Cantor Fitzgerald reduced their price target on shares of Viking Therapeutics from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Viking Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.60.
Viking Therapeutics Stock Up 2.2%
Viking Therapeutics stock opened at $30.29 on Thursday. Viking Therapeutics, Inc. has a 52-week low of $22.96 and a 52-week high of $43.15. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -7.32 and a beta of 0.69. The company has a fifty day simple moving average of $31.62 and a 200-day simple moving average of $32.73.
Viking Therapeutics (NASDAQ:VKTX – Get Free Report) last released its earnings results on Thursday, April 30th. The biotechnology company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.36). During the same period last year, the firm earned ($0.41) EPS. On average, research analysts anticipate that Viking Therapeutics, Inc. will post -4.7 EPS for the current fiscal year.
About Viking Therapeutics
Viking Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for metabolic and endocrine disorders. Headquartered in San Diego, California, the company’s pipeline leverages small-molecule approaches to target hormone signaling pathways implicated in conditions such as non‐alcoholic steatohepatitis (NASH), dyslipidemia, type 2 diabetes and muscle wasting disorders.
The company’s lead programs include VK2809, a thyroid hormone receptor‐beta agonist designed to reduce liver fat and improve lipid profiles in patients with NASH and dyslipidemia, and VK5211, a selective androgen receptor modulator (SARM) aimed at enhancing muscle mass and function in individuals with muscle wasting conditions.
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